Possible to make 1% p/d?

[afterhisownheart]

Hi there

I started learning about the markets in 2010 and had spells of day trading (whilst working full time). It had mixed success but it was fair to say that I never had an edge in my strategy. Afte a while, I laid off as I did'nt want to burn through hard earned cash.

I'm almost 40, been paying 2 sets of bills (folks too) since I was 21. I realise (very late!) that i'm going to be in trouble as I get older as I've not given myself a chance to be financially independent. Now I've managed to take of bills, got a better paying job and been more disciplined with my saving. I have an OK amount (by UK standards) but it's nowhere near enough to even get property.

So, I want to ask experienced financial gurus on here. Is it realistic for an average joe to make 1% per day (I obviously assume there's a lot of effort involved!)

Using this formula - ((P*(1+i)[sup]n)[/sup] - P)

where P=principle, i=interest & n=periods(days in my case), a start point of £5000 over 200 days would result in £31580

Firstly, is that correct? Secondly, is this even achievable? Lastly, if not, what is realistic?

I'm not a quant trader or anything, programmer turned project manager...

 

[jmcobb1980]

@afterhisownheart No

 

[hollypennno]

@afterhisownheart Is it technically possible? Probably, there's almost certainly something in the market every day that would give you a 1% gain. But the odds against your picking that stock correctly every time are astronomical. There's a massive industry dedicated to making as much money as they can in the market - you think they wouldn't already be doing this if it was possible?

 

[afterhisownheart]

@hollypennno Very fair point - I guess I'm also curious to see if the bigger guys do achieve these kinds of returns? (but its kept from us). I know enough now, to understand that as a retail trader, you can't really expect 9/10 to be correct and it's closer to a 50/50 split with your losses capped and allowing your winners to run. But, is that the same for the big players? Or are they calling 8/10 trades correctly?

 

[gasol]

@afterhisownheart hedge funds will pray for a 10% annual return, 7% is around the avg

a hedge fund making 20% is a god send